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the world. u.s. president barack obama took the wheel of an economy that resisted efforts to write it. now voters are deciding whether to stick with him or whether his republican opponent mitt romney deserves the job. eyewitness news line will focus all day on the race for president. >>> millions of americans are still voting. millions are already making their choices and already we're getting some hints about who they chose. our partners at abc news project barack obama will capture 3 electoral votes and mitt romney 33. >>> let's take a look at the projections state by state. the states in blue are for obama. the runs in red for romney. romney in south carolina, indiana, and kentucky. the projections give obama 3 electoral votes and they hope the number adds up to 270 or more needed to win the election. obama and the first lady arrived at home in chicago. the president wrapped hip his campaign with a visit to ohio and other swing states and criticized his opponents economic policies. he said romney would only increase the gap between rich and moor. romney voted in belmont, massachusetts.
. >> thanks for joining us. barack obama has won his second term in office as president of the united states, but his celebrations will be short-lived as the multitude of urgent issues on his desk draws him back to work without delay. >> the first order of business will be to negotiate a new budget deal in congress by the end of the year. otherwise, and harsh plan of spending cuts and tax increases are due to go into effect. we will hear more about that later on in the show, but first, a look back at how things play out on election night in the u.s. >> his face said it all -- president barack obama had to fight hard to keep his job in a tough race against his republican challenger, but once the result was clear, his first message to the american people was one of unity. >> it does not matter who you are or where you come from or what you look like or where you love. it does not matter weather you are black or white or hispanic or asian or native american or young or old or rich or poor, able, disabled, gay or straight, you can make it here in america. [applause] these -- >> these are the kin
"! ♪ ♪ >> kimberly: if case you didn't hear, president obama won last night but america is facing the same problems today we did yesterday. we have millions of americans looking for work. trillions in debt. stock market dropped 300 points today. serious problems that demand leadership and serious solutions. after the divisive election americans hope mr. obama will compromise and get america moving back in the right direction. we'll start with the happiest man on campus. my goodness, mr. bob beckel. >> bob: let me say a couple of personal things. i thought romney's speech was the most gracious concession speech i ever heard. he deserves credit for it. the second thing i thought about was my dad, a civil rights worker. he was not alive to see obama get elected and i was thinking how it would be to see him be real. i was happy about the democratic party staying together and particularly happy for every black kid in america. positives out of that for group of people. the voters vote and that's all i want to say. >> greg: will the black kid be happy if he doesn't get a job? >> kimberly: thank you for do
. with stocks weighed down, is this the obama sell-off? are other factors involved? the dow will open lower. some industries that taking on the shin, telling the financial story of this election coming up next and so is karl rove. what went wrong for romney? he has an answer. >> this election is over but our principles indoor. i believe the principles upon which this nation was founded are the only sure guide to a resurgent economy and new greatness. 4g lte is the fastest. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. more 4g lte coverage than all other networks combined. is what drives us to broadcast the world's biggest events in 3d, or live to your seat high above the aantic ocean. it's what drives us to create eco-friendly
saw the pictures chris christie and president obama toured the storm-ravaged coast of new jersey yesterday. christie knows who was there to help when new jersey needed it. so now the big question is christie going to stay with the man he had previously endorsed or will he throw his substantial weight behind president obama? don't hold your breath. okay. we'll get into that and a whole lot more here on the "full court press." first, here she is with a current news update today lisa ferguson out in los angeles. good morning. >> hey bill. good morning everyone. campaign schedules are getting back on track today as romney heads to virginia and president obama has a very busy day ahead of him. first, he starts off the day in green bay, wisconsin for a rescheduled event that he had to cancel tuesday to deal with hurricane sandy. then he is off to nevada, colorado and ohio. yesterday, obama toured the aftermath of hurricane sandy in new jersey along with governor chris christie who had nothing but kind words for t
and pledges to our flag. >> president obama gives a nod to dream act activists in his victory speech as latino voters turned out in record numbers to help obama win reelection. we will speak with juan gonzalez about the latino vote and the nation's changing demographics. >> were talking about 11 million to 12 million people that are undocumented in the united states. i think the extreme -- the most extreme right of the republican party understands that if 11 million to 12 million people are able to legalize their status and become a voters, it will change the political landscape of america for decades to come. >> we will also discuss puerto rico. for the first time, the majority of the island's voters supported a non-binding referendum to become a full u.s. state. we will speak with the nation magazine's john nichols president of his new mandate for the next four years. all of that and more coming up. this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. president obama return to the white house on wednesday hours after his convincing win over republican challe
captioning sponsored by macneil/lehrer productions >> woodruff: president obama returned to washington today after winning the electoral college, the popular vote and a second term. good evening, i'm judy woodruff. >> ifill: and i'm gwen ifill. on the "newshour" tonight, kwame holman wraps up the results and the reaction and ray suarez reports from chicago on the president's day. >> woodruff: we assess the tactics that led to success for the obama campaign and failure for mitt romney. >> ifill: we examine the messages voters sent yesterday with jeffrey brown, who looks at the makeup of congress and the new laws around the country. >> woodruff: what to do about the fiscal cliff, healthcare and immigration? we explore the challenges ahead in the next four years. >> ifill: and back with us again, for analysis, are mark shields and david brooks. >> woodruff: that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and with the ongoing support of these instit
>>> welcome back to the cnn newsroom. i'm prfredricka whitfield. president obama and mitt romney are making a final push. obama has florida, colorado and ohio on his schedule. this morning mitt romney was in des moines and just spoke in cleveland, ohio to supporters. later today he will be rallying in pennsylvania and virginia. we'll have all the action from the campaign trail. we have a team of reporters in the battleground states covering all the angles. meanwhile, team obama is making its final push for votes today. this hour he is expected in the battleground state of florida where he is expected to speak shortly in hollywood, florida. brianna keelel is already there. brianna, what is the message the president is expected to deliver there? >> reporter: this, fredricka, is going to be his closing message. he is going to be telling voters you may not agree with everything that i've done, you may be impatient with the pace of change, but stick with me, my economic policies are working and we're heading in the right direction. as mitt romney has tried to frame himself as the cand
last push. u.s. president barack obama and republican challenger mitt romney are making their final pitches before americans head to the polls. obama visited three swing states. he told a crowd in wisconsin that romney would resurrect the republican policies of four years ago and preserve tax cuts for the wealthy. >> it's a choice between returning to the top-down policies that crashed our economy or a future that's built on providing opportunity to everybody and growing a strong middle class. >> romney also campaigned in swing states. he told an audience in florida that obama had failed to deliver on promises to reduce the economic burden on americans. >> tomorrow we begin a new tomorrow. tomorrow we begin a better tomorrow. this nation is going to begin to change for the better tomorrow. >> the latest poll from the washington post presents 50% of voters will cast their ballots for obama. polls indicate a close race in eight states. some suggest the candidates are running even. others give obama a narrow lead. obama carried the state four years ago due in part to younger voters. bu
live" starts right now. megyn: fox news alert, breaking news on the obama cabinet. as we just heard from the attorney general on possibly resigning as it is out with the old, in with the new, apparently, in obama administration 2.0. welcome to "america live," everyone, i'm megyn kelly. just two days after americans gave president obama a second term, we are learning that big changes could be on the way at top-level cabinet positions. secretary of state hillary clinton already said she has plans to leave, and now reports say that treasury secretary timothy geithner may be out, and moments ago the attorney general, eric holder, telling a group of law school students that he does not know if he's going to stay on the job. >> that's something that i'm in the process now of trying to determine. um, the first step has already occurred, that the president has been reelected. um, and i have to think about can i contribute in a second term. i have to, obviously, talk to him, speak to members of my family, in particular one who i'm married to, and then really ask myself the question about, yo
mitt romney, the campaigning continues in two key battleground states. >> president obama promised change. but he couldn't deliver it. i promised change and i have a record of achieving it. >> and planning to play basketball and have a family dinner having issued his final rallying call. >> our work is not done. our fight for change goes on. because we know this nation cannot succeed. >> hello and welcome to gmt. i'm tim wilcox. also coming up in the program, more on the murder of the man who brought down -- and claims neil hayward supplied information about him and his family to britain's secret service. and the blockbuster with game members queuing around the block. hello, it's midday here in london and 7:00 a.m. in beijing and 7:00 a.m. in washington where after the campaign, the polls have opened. let's go live to jane hill there. >> hello. and welcome to washington, d.c. millions of americans are going to the polls today to decide who will be their president for the next four years. the race between the democratic president, barack obama and governor mitt romney is one of the
of the box day before polls coming to you shortly. big city newspapers, obama. small town papers, romney. establishment tv? well, they favor obama big time, no surprise there. in pennsylvania, tens of thousands brave a very cold night to cheer mitt romney. late sunday night, thousands more keep the enthusiasm level up for him in virginia. in new jersey and new york, millions are still reeling or feeling the pain. the president's post storm glow appears to have ended. this is the day before america decides what kind of a country we want. it is a stark choice and "varney & company" about to begin. ♪ [ male announcer ] is is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, ve a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket scie
percent. we are bracing for gridlock. president obama claims another four years. europe also in play. decision day with protesters taking to the streets on the new morning about the euro zone debt crisis. tracy: despite the ballooning deficit, president obama winning a decisive electoral victory. any chance things in washington will actually change now? or does it give the president a big old mandate? lori: a record 20 million people taking to twitter to speak out about the election. coming up, the most popular tweet of all time. the new york stock exchange and nicole petallides. broad-based selloff, most sectors in the red today, what are the traders saying? nicole: they're looking at the key levels, the s&p 500 below 1400, a very technical level that we have followed. traders say tha said that is nod sign. you think maybe this is a buying opportunity with the traders i have been talking to say it has further downside potential. sector after sector coming under pressure for the next four years. financials, energies and the likes. also a name making some headlines on their ow
of the president. >> caller: i'm passionate for the country. i don't care who obama our romney is. i want somebody that will help the american people to progress. i want to see america -- >> host: you want compromise? >> caller: i want compromise, yes. but i'm going to tell you this, and make no mistake about it, we have people in this country that have completely destroyed rather than try to compromise and try to bring the government to some sort of conclusion where everybody will benefit. some people in this country feel as though other people should not exist or have any benefit and they would do everything possible, spend all their money, disrupt the government and do whatever they can to prevent other people from having a happy life. >> host: let me ask you this. do you think that president obama should govern as if he has a mandate? how far should he pushed, should he be aggressive? >> caller: he has to be aggressive because if he doesn't -- >> host: is that compromise though? >> caller: you can be aggressive and still compromise. let me say this, the congress is the tea party for and if oba
point* of each other romney and holds 410 percent and obama at 48%. bill kristol joins us now. everyone takes a guess i think it will be a disaster because of the recount. >> i will take the opposite. i do not want a disaster. it will be very close and the states will be resolved if i have to bet to i think it is meant romney if anybody says they know what will happen is kidding themselves. >> what about ohio? with winner-take-all? >> this important and virginia the lines are very long. there will be at huge turnout if those are republicans who stayed away? obama of voters he successfully mobilize? that is a big question. looking at ohio you don't know that is a good predictor it is extremely close with the tiny edge two romney . gallup, of rassman singh, a battleground poll is dead even but try to adjust for likely voters but the more conventional hour four obama think republicans will do better than that. it is those close. piura. tracy: i do to. but wisconsin could do it any time. virgin yak by petition and there are trigger points. those independent voters could swing either way. >>
for the first time five votes each for obama and five for romney. election coverage begins with a special edition of "squawk box" tonight at 5:00 p.m. eastern time followed by prime time coverage here on cnbc. jim will be a big part of this. >> i can't wait. a big night. i think that -- look, as maine goes so it goes. new hampshire, i don't know. when i look at all of the polls, i here it neck and neck. when i look -- this is why i believe it will be for obama. that's not a political statement by the way. what i'm saying is i look at the states and obama does factor plus or minus he's ahead except for virginia and maybe florida depends on the poll. i urge everyone to go out and vote in new jersey. very difficult. largest polling place in our town closed. no power. people have to recognize that the adversity of a lot of people trying to vote today shows you that democracy is trying to be at work. not as easy as you thought. >> i have always said voting is messy. we do it better than just about anybody else. >> north korea has the 99%. everybody seems to turn out. >> regardless of whether t
. this is not the election outcome that wall street wanted to see. after all many investors believe president obama's tax policies will hurt corporate profits. on top of that there's the likelihood of more regulation in the president's second term. those concerns were evident in selling today of energy, banking and healthcare stocks. a quick look at the price board at the new york stock exchange is a good barometer for the worrywarts out there. wall street veteran teddy weissberg says many investors are just plain upset. >> there was an expectation that we would have some change and a change in the policies. and, i think with obama getting re-elected there are a lot of folks that are not happy, and we're kind of seeing that in the stock market. >> reporter: but, others say it's not just the disappointment of romney's loss, it's that the fiscal cliff now looms large on wall street. >> i think the big issue right now is the fiscal cliff, now that the election is behind us everyone is really focusing on what's going to happen at the end of this year, and of course if nothing's done by the end of the year th
president obama. >> one thing they don't project, bathroom breaks. >> good news for mitt romney. he has won -- most of the confederacy. >> new york. >> very funny stuff. >> thanks so much for joining us. we'll be back tomorrow. erin burnett "outfront" starts erin burnett "outfront" starts right now. -- captions by vitac -- www.vitac.com >>> "outfront," the are are investors really panicking or is there something else causing the fear? and the gop licks its wounds and starts pointi ining fingers. here with us tonight, a possible 2016 candidate. and another nor'easter bearing down on the region still recovering from superstorm sandy. let's go "outfront." good evening. "outfront" tonight, markets tanked. the day after president obama wins a second term, the dow has its worst day in a year. the dow finished the day down nearly 313 points. for the first time in three months, it closed below 13,000 and when you look at the broader markets, all were down 2.5%, so is the election really to blame? "outfront" tonight, michael farr, author of restoring our american dream. good to see you. i kn
popping the champagne yet. david coat, the honeywell ceo who met with president obama during that business leader summit last week says that the looming fiscal cliff is already impacting his business. >> right now i'm not that bullish at all. in fact i'd say there's a great uncertainly that's just hanging over the entire economy because we're not confident that our guys can govern anymore. people like me just aren't hiring because we're not confident they can do it. >> well, the white house echoed that concern this morning. a new report says failing to act on the president's plan for middle class americans would freeze the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook i
after president obama wins a second term, the dow has its worst day in a year. the dow finished the day down nearly 313 points. for the first time in three months, it closed below 13,000 and when you look at the broader markets, all were down 2.5%, so is the election really to blame? "outfront" tonight, michael farr, author of restoring our american dream. good to see you. i know there were a lot of markets often go down on the day after an election and they're worry about the fiscal cliff and europe. -- >> you really can't tell. certainly we had a couple of point run-up prior to the election and then this morning without the distraction of all of a political punditry and bluster, we see marcus all of a sudden come back down. perhaps investors confronted the fiscal cliff and what's going on in greece. they need another $40 billion. china's slowing and we've got 2% gdp growth. fairly tepid. >> the credit rating agencies, the we couldn't make a deal last time around. fitch was one of them just hours after the president was re-elected. said if they don't avoid the fiscal cliff, we're going
exciting. president obama and republican challenger mitt romney closing out a hard fought and expensive battle for the white house. voters facing a choice between two different visions . number one concern is the economy and which of those two guys will fix it in the next four years. >> gretchen: as we speak the polls are opening. connecticut, vermont and virginia and new york . very first votes cast in new hampshire . polls open there in midnight. and dicksville notch voters splitting it down the middle. five for president obama and five for mitt romney and 50 time ever there. and in another new hampshire village. obama won with 23 votes and mitt romney received nine and libitarian gary jaunce one vote. >> and that is the way it will be all day long as the race is really close. >> steve: both candidates in a virtual tie according to the polls. look at these guys. live in chicago where the president just arrive will watch the ballots come in. and phil keating in the swinger state of voting where early voting is controversial. john, mitt romney will be the first to vote this morning. >>
this means, next two or three weeks after the attacks, the obama administration and state department and inteleto a certain degree blamed a movie knowing very well it was a coordinated attack on the consulate andanex and this information proves it was a massive cover up. >> steve: you know, gretch, alluded to this leading into peter. it is a drip, drip, drip of new information coming out and it would be a bigger story if the media pecked tup. but hurricane sandy came along. >> gretchen: they were not covering it more. >> steve: they had stuff in the washington post and daily beast and mr. lakey is after it, but we may never know what really happened. and the other big story hurricane sandy turning more deadly . death toll at 90 can that number could climb. four and half million people are still without electricity. most of them in new york and in new jersey. one of the hardest places hit was staten island, new york. flood waters fill would homes and strong winds ripped the homes off of foundation and there are bodies in the water and have you seen fema out there? anais live this morn
>>> decision day. president obama and mitt romney make final arguments before millions of americans head to the polls. >> on november 6th, we come together for a better future, and november 7th, we get to work. >> are you fired up? >> the first votes are in. while millions have cast early ballots, the first polls open especially overnight. while the effects of superstorm sandy affect the vote in many areas, millions remain in the dark and cold without power as a new storm bears down on the northeast. this is the cbs morning news for tuesday, november 6th, 2012. good morning, everybody. good to be with you. i'm terrelle brown. the first ballots of election day 2012 have been cast. at least 120 million americans are expected to vote today in an election driven by record spending and even now, the outcome is up in the air. looking at the last gallup daily tracking poll of likely voters, president obama and mitt romney are separated by just one percentage point, a virtual tie. we have two reports this morning. randall pinkston is covering the romney campaign in boston. we begin with big
. happening now, president obama gets down to business. he's signaling what his priorities are for term two. also, a dramatic courtroom confrontation of the former congresswoman gabrielle gifford stares down the man who tried to kill her. now that the voters have had their say, colorado's marijuana growers and would-be legal dealers face a showdown with the federal government. i'm wolf blitzer. you're in "the situation room." >>> today we're getting our first inside hints about what's on the president's to-do list now that the election is over. the list includes huge issues like taxes, the deficit, headline making overseas trip and a possible shakeup of his cabinet. let's get right to our chief white house correspondent jessica yellin. she's been doing some reporting. jessica, what are you learning? >> reporter: hi, wolf. first the reports that the president is going to be delivering a major speech on the economy or on the fiscal cliff are simply not true. no big speech planned for the coming days. the second piece -- i'll add to that that the president's team believes that they have laid o
. thankfully. >> interesting, mitt romney didn't take any battleground states. the final tally, obama took four swing states. colorado, ohio, virginia, combined, 306,000 votes just to show you how close it was in battleground states. >> the final popular vote, obama is up as of right now, yesterday afternoon by 3 million votes, all over the country. and florida still being counted. a lot of what is coming in, democratic counties. the layest on the numbers. >> don't hold your breath. >>> a 21-year-old california man confessed to breaking noonan see pelosi's home. arrested during another burglary in the same napa valley neighborhood. he had a watch on him taken from pelosi's house. and police say he admitted to breaking into six homes. >>> still recovering from super storm sandy, residents in new jersey and new york are now being hit by a nor'easter. the heavy, wet snow took down power lines and made the evening commute a pretty dangerous one. >> more than 1,000 flights have been canceled at area's airports and the nation's largest commuter railroad came to a halt. central park picked up 4 inches
is to watch the dollar generally seen romney is better for the dollar. obama victory would mean a weaker dollar. so we see the dollar showing strength. whether that means markets are reading in to it or not, i don't necessarily want to think we can go that far, but we are seeing under 1.28 for the euro-dollar, 1.2796. shedding 0.1%. and this along with the other dallas crosses will be one to watch in the next about 48 hours and hopefully not too much longer than that. >> we are hoping we know in 48 hours exactly who the president is. cross our fingers on that. when we come back, as the northeast begins to recover from super storm sandy, the hardest hit regions are bracing for a possible nor'easter. this is the next phase. plus the final dash to election day. john harwood joins us with the latest poll findings. the new electoral map when "squawk box" returns. >>> let's take a quick look at us equity futures. just 24 hours before the big election. dow off 22, nasdaq, as well. bowieing and kuwaiti leasing company finalizing an order for max 8s, valued at $2 billion current list prices. the
. >>> hello, again. what a week in politics. with his victory in florida yesterday, president obama now has a sweep of the battlegrounds. 332 electoral votes. losing only indiana and north carolina from his 2008 total. the popular votes are still coming in. the president will come up about 8 million short of his 2008 tally. we'll discuss how obama did and what's next for the gop and the governing challenges ahead? >>> but first, that friday afternoon bombshell. david petraeus resigns at the cia after officials uncover his extramarital affair. . >> yes it came to light after a woman in tampa tied to military got a peculiar, harassing e-mail. she was so concerned, she contacted the fbi who according to our sources traced it back to paula broadwell. as the fbi continued to investigate, they discovered e-mails pointing to a romantic u sexual relationship between the two. early concerns about the e-mails being hacked. but the evidence never turned up to be compromise to intelligence. >> what more do they have to investigate now and why wasn't the white house told until this week? >> the fbi inve
something that's trending on the web right now. it's this white house photo showing president obama and olympic gymnast mikala maroney looking not impressed. the president was having a little fun with maroney who had that same face when she finished the vault. that look went viral. i'll be back and show you how the twinkie is iconic in mexico. that's right, mexico. stay with cnn. "your money" starts right now. >>> this is the economic storm of our own making and it's threatening any chance of a sustained recovery. i'm ali velshi. this is "your money" and i'm going to show you the damage america could do to itself if washington allows us to go over the fiscal cliff. unemployment in the u.s. which has come down to to 20.9%, it could go up another 9%. according to a new research new york post poll, you clearly understand the danger of this fiscal cliff. 50% say it will have a major effect on the economy, 21% say a minor effect, 2% no effect, 10% say they don't know, which is why you're watching this right now. president obama says they're centering around increasing tax on the wealthy
another 121 points today. >>> nearly two full days after barack obama was declared the winner of the presidential election, florida is still undecided, although there are some reports that say barack obama has been declared the winner. the sunshine state's 29 electoral votes are, of course, irrelevant to the outcome are but some critics point out that this year's problems underscore ongoing issues with florida's voting process and a recount is not out of the question. >>> 11 people mostly young women kidnapped, robbed and raped. tonight those accused attackers are behind bars. >> reporter: i'm scott broom at coffen state university in baltimore and neighbors say a pair of predators were stalking, raping and robbing victims including students off campus. they targeted the west baltimore neighborhood near koppen state university often targeting women at bus stops, forking them at gunpoint into a -- force them at gunpoint into a golded for explorer, then taking them -- gold ford explorer, then taking them away to be robbed and raped and dumping them off in parking lots. today po
it is that things are working. you know, president obama was dealt a tough hand. we hear this everyday if you watch tv. and of course it's my brother's fault for everything that goes on. it's almost as though the dog ate my homework is the reason we're going through tough times. but let me tell you mitt romney from day one, job one will be to restore the american economy so people can purr shoe their dreams as they see fit by limited government and build capacity so people don't have to get in line and be dependent upon government. no one wants to do that. we want a society where the next generation has more opportunities than what we have. and the american dream is what this election is about. are we going to reverse the track we're on which is a false sense of economic security where we get in line and have the government solve our problems for us? as if that's ever worked in american history. or are we going to restore american greatness the way we know it works best to create jobs in a strategic way with a guy as president that will work to build solutions rather than just talking about things?
"erin burnett outfront." >>> are investors really panicking about four years of obama or is it something else causing the fear? and the gop licks its wounds and starts pointing fingers. here with us tonight, a possible 2016 candidate. and another nor'easter bearing down on the region still recovering from superstorm sandy. let's go "outfront." good evening. "outfront" tonight, markets tanked. the day after president obama wins a second term, the dow has its worst day in a year. the dow finished the day down nearly 313 points. for the first time in three months, it closed below 13,000 and when you look at the broader markets, all were down 2.5%, so is the election really to blame? "outfront" tonight, michael farr, author of restoring our american dream. good to see you. i know there were a lot of markets often go down on the day after an election and they're worry about the fiscal cliff and europe. -- >> you really can't tell. certainly we had a couple of point run-up prior to the election and then this morning without the distraction of all of a political punditry and
. president obama says they're centering around increasing tax on the wealthy which will go a good way in increasing the revenue that he wants to raise in the next decade in an attempt to reduce the federal deficit. he wants to reinstate the bush tax cut which goes to the top 2% of earners. that would jump from 36% to 39%. he likes to say that's where it was during the clinton years. the second one would go from 36% to 39%. he's been focusing on this specific number since his reelection which suggests he may compromise on the actual rates in order to get a deal. there are other taxes as well he's talking about. taxes on investment gain would also go up. the capital gains tax would go from 15% to 20% and dividend taxes would go from 50% to the income tax rate. as i showed you, 39.6%. president obama argues this will hurt people with savings and dividend stocks, but the overall investment gains are enjoyed by the wealthy. this, again, would target that rich group that president obama is talking about. but that's not all. the president also wants to raise an additional $500 million by lim
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